Exploration

BP’s chief executive Bob Dudley ahs declared that BP has reached a turning point and is now profitable after the last disastrous year that it has been through following the Macondo oil spill.

Kongsberg Oil & Gas Technologies (KOGT) has signed an agreement to supply a flexible risers and umbilicals installation system for the ‘Capstan Reel Installation System’ (CRIS), to the Offshore Installation Group (OIG).

Spectrum selects the Paradigm Echos suite for seismic processing and imaging across its global operations.

Multi-Client seismic specialists, Spectrum, have released details of over 10,000 km of 2D Multi-Client seismic data located over the Dreki/Jan Mayen Ridge (JMR) area offshore the north-eastern coast of Iceland.

Saipem has been awarded new E&C Offshore contracts worth US$ 1.5 billion.

Ophir Energy Plc has offered US$186.3 million to acquire Dominion Petroleum. The acquisitions will reinforce Ophir’s position in its East Africa play where it has already made three consecutive deepwater discoveries.

Latin America will account for half of the projected floating production Capex over the next five years according to a new Douglas-Westwood report.

The latest EIC Monitor tracking new active and future projects across the global energy industry shows growth in potential investment value across all sectors this quarter.

The organisation which represents America’s oil and gas companies has cautioned the president’s job council not to overlook potentially a million new oil and natural gas jobs, which could be created by energy development.

The BP Deepwater Horizon spill, pipeline leaks, population growth, urbanization, increasing demand, and opposition to the siting of new pipelines have combined to focus greater attention on pipeline safety. However, America is still heavily reliant on oil and there needs to be a compromise between pipeline security and the security of supply. By: Jude Clemente, JTC Energy Research Associates.

AMEC has been awarded a FEED contract for GDF SUEZ E&P UK Ltd's Cygnus gas field development, one of the most significant undeveloped gas fields in the North Sea.

Kosmos Energy announced that the Enyenra-3A appraisal well has confirmed an updip extension of the Enyenra light oil field on the Deepwater Tano Block offshore Ghana.

Both crude oil rich nations seek cooperation for the utilisation of their vast reserves: Iraq to build refining capacity and Kuwait to secure long term supply relationships.

TransAtlantic Petroleum Ltd. has entered into an agreement with LNG Energy Ltd. whereby LNG will invest US$ 7.5 million to immediately commence drilling the Peshtene R-11 well this week, which will be a 10,500 foot (approximately 3200 m) exploration well in the A-Lovech exploration license in Bulgaria.

Total has acquired a 40% interest in five offshore exploration blocks in Kenya. The company has acquired stakes in blocks L4, L7, L11a, L11b and L12 in the Lamu basin.